I am interested in purchasing a used mobile home in excellent condition for $25,000. Should I go for a home equity loan or a mortgage?
This is a "pre-1976" home, so financing is a challenge; however, I have more than sufficient equity in my "non-owner occupied" condo and have a credit score between 678-686.
This home has numerous upgrades, is fully furnished with upscale furnishings, newer central air and full-length covered patio. HOA fee only $446/mo.
I've already been approved for a loan but they want $1,000 appraisal fee which I absolutely refuse to pay!